Company No: 07759564 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	0		101,530
Tangible assets	4	89,693		112,648
		89,693		214,178
Current assets
Stocks	5	210,684		192,740
Debtors	6	42,893		53,644
Cash at bank and in hand		3,363		7,013
		256,940		253,397
Creditors: amounts falling due within one year	7	( 2,574,229)		( 2,442,408)
Net current liabilities		(2,317,289)		(2,189,011)
Total assets less current liabilities		(2,227,596)		(1,974,833)
Creditors: amounts falling due after more than one year	8	( 4,167)		( 14,167)
Net liabilities		( 2,231,763)		( 1,989,000)
Capital and reserves
Called-up share capital	9	100		100
Profit and loss account		( 2,231,863 )		( 1,989,100 )
Total shareholders' deficit		( 2,231,763)		( 1,989,000)

For the financial year ending 31 January 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Treleaven Luxury Cornish Ice Cream Limited (registered number: 07759564) were approved and authorised for issue by the Board of Directors on 06 October 2025. They were signed on its behalf by:

Mr R M Rowse Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Treleaven Luxury Cornish Ice Cream Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 4 St. Marys Arcade, Wallingford, Oxfordshire, OX10 0EY, United Kingdom. The principal place of business is Tretoil Farm, Bodmin, PL30 5BA.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £2,164,515. The Company is supported through loans from connected companies. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the connected companies will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

15 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings	10 years straight line
Plant and machinery	5 - 10 years straight line
Vehicles	5 years straight line
Fixtures and fittings	5 years straight line
Office equipment	5 years straight line

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	8		7

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 February 2024	507,787		507,787
At 31 January 2025	507,787		507,787
Accumulated amortisation
At 01 February 2024	406,257		406,257
Charge for the financial year	33,870		33,870
Impairment losses	67,660		67,660
At 31 January 2025	507,787		507,787
Net book value
At 31 January 2025	0		0
At 31 January 2024	101,530		101,530

Revaluation of intangible assets

At 31 January 2025, the goodwill acquired by Treleaven Luxury Cornish Ice Cream Limited on incorporation was considered to have a value of £nil. Therefore the asset has been fully impaired during the year, amounting to £67,660 charged to the profit and loss account.

	2025		2024
	£		£
Historical cost	507,787		507,787
Accumulated amortisation	(440,127)		(406,257)
Accumulated impairment loss	(67,660)		0
Carrying value	0		101,530

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£		£
Cost
At 01 February 2024	178,794		613,167		60,644		39,830		997		893,432
Additions	0		8,085		0		2,627		0		10,712
At 31 January 2025	178,794		621,252		60,644		42,457		997		904,144
Accumulated depreciation
At 01 February 2024	142,874		559,518		42,847		35,380		165		780,784
Charge for the financial year	17,880		7,956		6,102		1,530		199		33,667
At 31 January 2025	160,754		567,474		48,949		36,910		364		814,451
Net book value
At 31 January 2025	18,040		53,778		11,695		5,547		633		89,693
At 31 January 2024	35,920		53,649		17,797		4,450		832		112,648

5. Stocks

	2025		2024
	£		£
Stocks	210,684		192,740

6. Debtors

	2025		2024
	£		£
Trade debtors	24,846		30,169
Amounts owed by Group undertakings	472		7,888
Other debtors	17,575		15,587
	42,893		53,644

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	10,000		10,000
Trade creditors	51,048		18,723
Amounts owed to Group undertakings	1,150,198		1,045,171
Other taxation and social security	0		2,976
Other creditors	1,362,983		1,365,538
	2,574,229		2,442,408

There are no amounts included above in respect of which any security has been given by the small entity.

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

8. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	4,167		14,167

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

10. Ultimate controlling party

Parent Company:

The Camel's Back

4 St Mary's Arcade Wallingford Oxfordshire OX10 0EY